6 Best Regulated Forex Brokers
Last Update: March 12th, 2024
The 6 best regulated Brokers revealed. We have explored and tested several prominent Forex brokers to identify the 6 best.
In this in-depth guide you’ll learn:
- The meaning of regulated forex brokers.
- List of regulated forex brokers.
- The best regulated Forex brokers for beginners.
- Regulated brokers with no deposit bonus.
- Brokers with low deposits.
- High leverage regulated brokers.
- Pros and cons of each broker.
- Popular FAQs about regulated brokers.
And lots more…
So, if you’re ready to go “all in” with 6 best regulated brokers…
Let’s dive right in…
6 Best Regulated Brokers (2024*)
- ☑️Alpari – Best Overall, with an ultra-competitive cost structure.
- ☑️FXTM – Ideal for high-frequency traders and scalpers.
- ☑️FP Markets – Best Forex Trading App.
- XM – Trusted Broker for Beginners.
- Exness – Best Overall broker for international traders.
- AvaTrade – Voted No. 1 Forex Broker – Fully Regulated.
🏆 10 Best Forex Brokers
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
What is a regulated Forex broker?
A regulated Forex broker is a financial institution authorized by government agencies to offer foreign exchange trading services. These brokers comply with strict regulations concerning client funds protection, transparency, and fair-trading practices. Regulation ensures investor confidence and safeguards against fraudulent activities, fostering a secure trading environment in the Forex market.
The 6 Best Regulated Forex Brokers
| 🔎Brokers | 👉 Open Account | 💰 Minimum Deposit | ⚖️ Regulation | ✔️ Demo Account |
| Alpari | 👉 Open Account | $100 | FSCA, FCA | ✔️ |
| FXTM | 👉 Open Account | $100 | FSA, FCA, MAS, FCA, ASIC, CySEC, FSCA | ✔️ |
| FP Markets | 👉 Open Account | $100 | ASIC | ✔️ |
| XM | 👉 Open Account | $5 | IFSC, CYSEC | ✔️ |
| Exness | 👉 Open Account | $1 | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA | ✔️ |
| AvaTrade | 👉 Open Account | $100 | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | ✔️ |
Alpari
Overview
They stand out as a reputable regulated Forex broker, particularly appealing to investors due to several key factors.
Alpari’s regulatory compliance instils trust and ensures investor protection, fostering a secure trading environment. This regulatory oversight enhances transparency and accountability, vital for investor peace of mind.
It offers a diverse range of investment products, including PAMM accounts and copy trading, catering to investors seeking passive income opportunities or portfolio diversification. These options allow investors to allocate funds to experienced traders or strategies, potentially mitigating risk and enhancing returns.
Additionally, their user-friendly platforms and comprehensive educational resources make it accessible to investors of varying experience levels, facilitating informed decision-making and skill development.
Their competitive pricing, reliable execution, and robust customer support further bolster its appeal to investors, ensuring efficient trading experiences and timely assistance when needed.
Overall, Alpari’s combination of regulatory adherence, investment variety, accessibility, and support make it a compelling choice for investors in the Forex market.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSC, CFTC |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, and Forex Pro Account. |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, Alpari Mobile App |
| 💰 Minimum Deposit | $5 |
| 📉 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes (but not for US traders, as per US regulation) |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
Alpari Pros and Cons
| ✅Pros | ❌Cons |
| Beginners and those with minimal capital can enter with a $5 deposit | High leverage can magnify losses, especially for novice traders. |
| Learning and strategy testing with low balance has less financial risk. | Trading with a small amount of capital limits profits |
| 1:400 leverage increases market exposure and rewards. | Micro account currency options are limited to USD, EUR, GBP, NGN |
| The Alpari micro account is a deal for evaluating Expert Advisors without a large investment | A small investment amount is more susceptible to market changes and margin calls |
| With the Alpari micro account, traders can trade 25 major and minor currencies and 2 spot metals | Lack of stocks or indices trading on the Micro Account |
Trust Score
Alpari has a high trust score of 80%.
FXTM
Overview
FXTM serves as an excellent regulated broker for scalpers due to several key attributes. Firstly, its low-latency execution and no-restriction policies facilitate rapid trade executions, essential for scalping strategies that rely on quick market movements.
Their regulatory compliance ensures a fair and transparent trading environment, crucial for scalpers who require reliable order execution and pricing integrity to capitalize on small price differentials.
FXTM offers competitive spreads, allowing scalpers to minimize trading costs and optimize profit margins, which is particularly important for high-frequency trading strategies.
Its robust trading platforms, advanced charting tools, and technical analysis resources provide scalpers with the necessary tools to identify and capitalize on short-term trading opportunities effectively.
Their combination of regulatory adherence, low latency, competitive pricing, and advanced trading tools make it a compelling choice for scalpers seeking a broker that can support their trading style with efficiency and reliability.
Unique Features
| Feature | Information |
| 🏛️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| 📲 Social Media Platforms | Facebook YouTube Telegram |
| 💻 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| Minimum Deposit | $5 |
| 📉 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
| USD-based Account? | Yes |
| USD Deposits Allowed? | Yes |
| ➕ Bonuses for traders? | Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes (Dubai customers only) |
| 👉 Open Account | 👉 Open Account |
FXTM Pros and Cons
| ✔️ Pros | ❌ Cons |
| Strong educational resources geared toward novices | Some accounts have relatively higher spreads. |
| Local customer service and presence in Nigeria | There is a limited selection of non-forex instruments |
| Offers flexible account types to Nigerians | Withdrawal costs apply to some transactions |
| Regular local seminars and workshops are available | Professional traders have limited access to advanced tools |
| Nigerians can register NGN-denominated trading accounts | There are limitations to scalping strategies |
Trust Score
FXTM has a trust score of 93%.
FP Markets
Overview
FP Markets excels as a regulated broker for professional traders seeking an Electronic Communication Network (ECN) environment for several compelling reasons.
Their ECN pricing model offers direct access to interbank liquidity, ensuring tight spreads and fast execution, ideal for high-volume traders requiring competitive pricing and minimal slippage.
Its regulatory oversight by reputable authorities such as ASIC and CySEC instils confidence in its operations, providing professional traders with a secure and transparent trading environment.
This regulatory compliance also ensures adherence to strict financial standards, safeguarding client funds and enhancing trust in the broker.
FP Markets offers advanced trading platforms, including MetaTrader 4 and 5, equipped with sophisticated tools and features tailored to professional traders’ needs, facilitating comprehensive market analysis and strategy implementation.
Their combination of ECN pricing, regulatory credibility, and advanced trading technology makes it a preferred choice for professional traders seeking a reliable and efficient trading environment.
Unique Features
| Feature | Information |
| 🏛️ Regulation | ASIC, CySEC, FSCA, FCA and FSA |
| 📲 Social Media Platforms | LinkedIn You Tube |
| 💻 Trading Accounts | MT4/5 Standard Account, an MT4/5 Raw Account, an MT4/5 Islamic Standard Account, and an MT 4/5 Islamic Raw Account |
| 📊 Trading Platforms | MetaTrader 4 MetaTrader 5 cTrader IRESS FP Markets App |
| 💰 Minimum Deposit | AU$100 |
| 📉 Trading Assets | Forex Shares Indices Commodities Cryptocurrencies Bonds ETFs |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ❌ No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
FP Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| The cutting-edge technology architecture of FP Markets is advantageous to traders. | Owing to FP Markets' global orientation, support for certain local payment methods could be limited. |
| Traders can take advantage of comprehensive customer support provided by a skilled and committed crew. | Although FP Markets offers a wide range of products, certain traders may be interested in local or specialist markets that they do not offer. |
| Traders have the option of trading with a broker who is subject to regulation by a variety of international regulatory bodies, including the FSA, FSC, ASIC, FSCA, and CySEC. | Withdrawal fees are assessed by FP Markets for a number of payment options. |
| For traders who wish to advance their trading expertise, FP Markets provides a whole educational package. | |
| In order to accommodate traders' diverse demands and trading preferences, FP Markets offers a range of account kinds. | |
| Traders can use platforms like MetaTrader 4, cTrader, IRESS, and MetaTrader 5 to get access to sophisticated charting and analytical tools. | |
| Traders can diversify their trading methods across asset classes by having access to a large range of global markets through FP Markets. | |
| FP Markets keeps its minimum commission arrangements and competitive spreads in place. |
Trust Score
FP Markets has a high trust score of 87%.
XM
Overview
XM stands out as a regulated Forex broker particularly well-suited for active traders due to several key factors.
Their regulatory compliance, overseen by reputable authorities like CySEC and ASIC, ensures a secure and transparent trading environment, vital for active traders who require reliability and trust in their broker.
XM offers competitive spreads, fast execution, and a wide range of tradable assets, enabling active traders to capitalize on short-term market movements with minimal trading costs and latency.
It provides advanced trading platforms, including MetaTrader 4 and MetaTrader 5, equipped with sophisticated tools and features tailored to active traders’ needs, facilitating comprehensive market analysis and efficient trade execution.
XM’s combination of regulatory adherence, competitive pricing, fast execution, and advanced trading technology makes it a compelling choice for active traders seeking a broker that can support their dynamic trading strategies with reliability and efficiency.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, XM Mobile App |
| Minimum Deposit in AED | AED 18.36 in $5 |
| 📉 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| INR-based Account? | No |
| INR Deposits Allowed? | No |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
XM Pros and Cons
| ✅Pros | ❌Cons |
| The XM accounts are accessible to all types of traders | Spreads can fluctuate drastically and quickly |
| Traders can use leverage up to 1:1000 | There are position size limits according to the trading account |
| XM caters to various trading strategies | ompared to alternative brokerages, XM offers a relatively limited assortment of cryptocurrencies, which may restrict the range of options available to traders interested in acquiring a diverse selection of crypto assets. |
| There is a diverse range of tradable instruments | Traders may incur inactivity penalties if their accounts remain inactive for prolonged durations. This situation may present a challenge for infrequent traders. |
| XM offers multi-currency accounts | XM functions through the implementation of variable spreads, the magnitude of which traders may perceive as being greater during periods of heightened market volatility. |
| XM applies for negative balance protection | XM, in comparison to certain industry rivals, does not consistently provide fixed deposit advantages, potentially impeding traders who are in search of supplementary incentives. |
| A cent account is provided by XM, enabling traders, particularly novices in the field, to commence their endeavours with more modest investments while efficiently mitigating their risk exposure. | A number of traders are perplexed by XM's fee structure, which varies by account category and has the potential to cause some users to become confused. |
| XM's platform provides traders with competitive margins that not only enhance cost-effectiveness but also possess the potential to optimise profits. | Depending on the regulatory climate, traders whose strategies favour higher leverage ratios may face repercussions if XM is able to enforce leverage restrictions. |
Trust Score
XM has a high trust score of 90%.
Exness
Overview
Exness emerges as a top choice for diverse traders due to several compelling reasons. Firstly, its regulatory compliance, overseen by reputable authorities like the FCA and CySEC, ensures a secure and transparent trading environment, catering to traders with varying risk appetites and preferences.
They offer a wide range of account types, including standard, ECN, and professional accounts, accommodating traders with different experience levels and trading styles. This diversity allows traders to choose an account type that best aligns with their specific needs and objectives.
It provides access to a vast array of financial instruments across multiple asset classes, including Forex, commodities, indices, and cryptocurrencies, enabling traders to diversify their portfolios and capitalize on various market opportunities.
Overall, Exness‘ regulatory adherence, diverse account offerings, and extensive range of tradable assets make it a highly attractive option for traders seeking flexibility, choice, and reliability in their trading journey.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | IG Trading Account Limited Risk Account Islamic Account (Dubai traders only) Demo Account |
| 📊 Trading Platforms | MetaTrader 4 IG Platform ProRealTime (PRT) L2 Dealer FIX API |
| 💰 Minimum Deposit | $250 |
| 📉 Trading Assets | Forex Indices Shares Commodities Cryptocurrencies Futures Options |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes (Dubai customers only) |
| 👉 Open Account | 👉 Open Account |
Exness Pros and Cons
| ✔️ Pros | ❌ Cons |
| Any trader can modify the leverage to suit their trading style and risk tolerance. | Exness operates in multiple regions, each with its own set of restrictions. |
| Traders can gain experience with virtual funds by demoing an account before investing in the live market. | Certain expert traders may believe that the platform's highly adjustable trading tools and capabilities are inferior to those of other specialty platforms. However, this represents a relatively small proportion of dealers. |
| Exness has been recognized for its practice of fully disclosing trading conditions, spreads, and fees. | While customer service representatives make every attempt to be always available, there may be variations in the timing and quality of their responses. |
| Exness does not impose any fees for withdrawals or deposits. | The possible intricacy and sophistication of the user interface may dissuade some traders from using it in comparison to their competitors. |
| There are options for depositing and withdrawing money locally. | Exness's sole focus on FX and CFDs may turn off potential investors searching for a more diverse range of investing opportunities. |
| Exness offers trading automation options to MetaTrader users, including Expert Advisors (EAs) designed specifically for Taiwanese clients. | Furthermore, having a lot of leverage increases the likelihood of substantial losses. |
| A diverse set of platforms and account types enable traders to trade across multiple markets. | Regardless of how deep the insights and market analysis are, some traders may consider they are inadequate. |
| Exness trades a variety of assets for its clients, including FX pairings, indices, cryptocurrencies, and commodities. |
Trust Score
Exness has a trust score of 97%.
AvaTrade
Overview
AvaTrade stands out as an excellent regulated forex broker for several compelling reasons. AvaTrade’s stringent regulatory oversight by respected authorities such as ASIC, FSCA, and the Central Bank of Ireland ensures a secure and trustworthy trading environment, fostering confidence among traders.
AvaTrade offers a diverse range of trading instruments, including Forex, stocks, commodities, cryptocurrencies, and indices, providing traders with ample opportunities to diversify their portfolios and access various global markets.
Unique Features
| Feature | Information |
| 🏛️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 📲 Social Media Platforms | Instagram You Tube |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📊 Trading Platforms | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💰 Minimum Deposit | $100 |
| 📉 Trading Assets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-Traded Funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| 💲ZAR-based Account? | No |
| 💲 ZAR Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for e traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes (Dubai) |
| 👉 Open Account | 👉 Open Account |
AvaTrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Wide range of tradable assets including Forex, stocks, commodities, and cryptocurrencies. | Limited research and analysis tools compared to some competitors. |
| User-friendly trading platforms suitable for both beginner and experienced traders. | Inactivity fees may apply to dormant accounts. |
| Access to comprehensive educational resources and trading tools. | Withdrawal processing times may vary depending on the chosen method. |
| Competitive spreads and low fees. | Limited availability of certain assets in specific regions. |
| Multiple account types to accommodate various trading styles and preferences. | Some traders may find the platform's interface overwhelming. |
Trust Score
AvaTrade has a high trust score of 96%.
Conclusion
Overall, trading with regulated Forex brokers offers traders essential safeguards, including transparency, security, and accountability. Regulatory oversight ensures fair trading practices, protects client funds, and fosters trust within the financial markets. Choosing a regulated broker remains paramount for traders seeking a reliable and ethical trading environment.
Frequently Asked Questions
Why is it important to trade forex with a regulated broker?
Trading with regulated forex brokers ensures that your funds are protected, and you’re operating within a framework of rules and standards set by financial authorities. Regulation promotes transparency, fairness, and accountability, reducing the risk of fraud and malpractice.
How can I verify if a Forex broker is regulated?
You can verify a broker’s regulation by checking their website for regulatory licenses and registration numbers. Additionally, you can visit the websites of regulatory authorities such as the FCA, ASIC, or CySEC and search for the broker’s name in their database of regulated entities.
What are the benefits of trading with a regulated Forex broker?
Trading with a regulated forex broker provides several benefits, including investor protection, segregation of client funds, adherence to strict regulatory standards, access to dispute resolution mechanisms, and assurance of financial stability and integrity.
Can I trust a Forex broker just because they claim to be regulated?
While regulation is an important factor, it’s essential to conduct thorough research beyond a broker’s regulatory status. Look into the broker’s reputation, history, client reviews, and additional safeguards they offer. Regulatory compliance is necessary but not a sole determinant of trustworthiness.
What should I do if I encounter issues with a regulated Forex broker?
When you encounter issues with a regulated broker, you should first attempt to resolve them through the broker’s customer support channels. If the issue persists, you can escalate it to the broker’s compliance department. If unresolved, you may file a complaint with the relevant regulatory authority.
Top 4 Brokers
